Ten years ago, the sales tax was last increased to 6% starting July 1, 2008. Local option tax is in addition to the state rate but is not required in all counties nor cities of participating counties. See how and what taxes if any effect your business.
State of Iowa Local Option Sales Tax (LOST) rate was effective July 1, 2018 in several counties. While some counties are participating in the changes, not all cities within the county are included in the increase. Along with the LOST tax, there have been several other changes to tax rates.
Anyone selling taxable goods or services from an Iowa location must obtain a sales tax permit.
- To get a more in-depth look at this requirement go to Iowa Sales and Use Tax: Taxable Services.
- To obtain a permit, apply through the Department’s Business Registration System.
Proper handling of your Sales and Use tax is sometimes complicated and confusing, but none-the-less, very important to your business and your customers. Occasionally classes, most often convenient webinars, are offered. Currently due to recent tax changes, classes are being updated and will be offered soon. Other options to obtain information is via Chat with a representative, contact them at 515-281-3114 or 800-367-3388 from 8 a.m. – 4:15 p.m. CT or email. You may also find these online references useful.
- This reference New Iowa Local Option Tax Jurisdictions will give you the summary of the changes and what cities and counties are included.
- This lnteractive Map will help you determine how to handle sales tax pertaining to your customers.
- The State of Iowa works to keep the businesses informed of changes that relate to sales. This Q&A Section has a lot of valuable, easy to understand references to common questions.
- Requirements for reporting and filing your sales tax, have not changed.
Be sure your software is handling sales tax correctly. Your Bookkeeper will help to prevent your company from developing improper sales tax procedures. Hiring an Expert will safeguard the process so you are collecting, reporting and paying sales tax accurately and timely per the State requirements.
A little more about us:
We guide, assist and manage your bookkeeping operations, customizing our service to fit within your needs, budget and timeframe.
- Providing daily, weekly, monthly or occasional BOOKKEEPING SERVICES. We assist to the degree that meets your needs and your budget. We provide you with a clear picture of your finances.
- Handling A/P and A/R entries, monthly financial reports, yearly audit assistance, state banking regulation audits, payroll processing, sales tax filing, and developing and implementing work-flow systems to ensure documentation requirements are accurate and complete.
- Creating the foundation for a cost-effective accounting system for NEW BUSINESSES, and those working to get more established, then providing customized, agreed-upon bookkeeping services contracting with clients for a clear understanding of the services to be provided.
- SCRUTINIZING existing financials to determine more timely, accurate and EFFICIENT bookkeeping options.
- Training of bookkeeping personnel in QUICKBOOKS as a Certified ProAdvisor.
- Examining financials to provide DECISION-MAKING INFORMATION regarding financial department personnel needs, resources and timing for product and service expansion, financial strategies for real estate or asset purchases, etc.
- MANAGING your books in a way that allows YOU to do what YOU DO BEST, sell your product or provide your services, while staying as involved in the bookkeeping as needed for proper management of your financials.
- CONSULTING on-call for client financial questions.
OrganizerForU offers a 20- to 30-minute complementary phone consultation. We value your time and we know that time efficiency is cost effective. During our call, we listen as you describe the current financial situation of your business, asking the right questions to determine how our services can meet your needs. We take time to briefly explain how our services are provided, to ensure we are a good fit for your needs and situation.